FGA Capital, an automotive sector financing joint venture between Fiat Group Automobiles and French banking group Crédit Agricole, is planning to issue a €500m, two-year bond, according to reports. Initial price talk is for the bond to yield in the area of 5.50%.

Crédit Agricole, Citigroup and UniCredit are the lead managers on the sale.

In its recently released consolidated financial statement for the full year to December 31, 2011, FGA Capital reported a net banking income of €609.1m (€596.4m in 2010), a net profit of €153.0m (€146.6m in 2010) and an average managed portfolio of €15.8bn (€16.4bn in 2010).

The issuer is rated Baa3 by Moody's, BBB by Standard & Poor's and BBB+ by Fitch Ratings.

Companies mentioned in this article